£2,750,000
“Price Reduction” – Part let/ part vacant office investment for sale – £2.75m plus VAT
- Priory Square offers a rare opportunity to acquire a landmark office building in the centre of Hastings with immediate asset management potential.
- Located in the centre of Hastings in the Priory Quarter. The railway station is a short walk to the north-east and the beach is a 5 minute walk to the south. Hastings has excellent connections with the A21 linking the town to the M25 and London. The retail area is circa 100m to the south.
- Priory Square occupies a prominent position on Priory Street (A21) and is one of the most prestigious commercial buildings within the area. The property extends to 4,191.1 sqm (45,113 sq ft) over basement, ground and six upper floors. The secure basement has 19 dedicated car parking spaces and cycle racks.
- The property is currently multi-let to 3 financially strong tenants including Government Departments.
- The total rent will be £298,899 pa. The estimated rental value is £756,335 pa.
- Potential to drive the rent on and let up the vacant floor space.
- The quoting price is £2,750,000 plus VAT reflecting a low capital rate of £61 per sq ft.
